RFG Advisory LLC Sells 245,610 Shares of Energy Vault Holdings, Inc. $NRGV

RFG Advisory LLC lowered its position in Energy Vault Holdings, Inc. (NYSE:NRGV) by 72.6% during the 1st quarter, HoldingsChannel reports. The fund owned 92,766 shares of the company’s stock after selling 245,610 shares during the period. RFG Advisory LLC’s holdings in Energy Vault were worth $306,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its holdings in Energy Vault by 1,004.0% during the 4th quarter. State Street Corp now owns 5,697,735 shares of the company’s stock valued at $26,267,000 after purchasing an additional 5,181,624 shares during the last quarter. Legal & General Group Plc purchased a new stake in Energy Vault in the 4th quarter worth about $18,217,000. Millennium Management LLC lifted its stake in Energy Vault by 141.2% in the third quarter. Millennium Management LLC now owns 5,858,734 shares of the company’s stock worth $17,400,000 after purchasing an additional 3,430,094 shares during the last quarter. Invesco Ltd. bought a new stake in Energy Vault in the fourth quarter worth about $11,454,000. Finally, Marshall Wace LLP boosted its position in shares of Energy Vault by 132.7% during the fourth quarter. Marshall Wace LLP now owns 3,194,205 shares of the company’s stock valued at $14,725,000 after buying an additional 1,821,462 shares during the period. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Citigroup initiated coverage on Energy Vault in a research note on Thursday, June 11th. They set a “neutral” rating and a $5.25 target price on the stock. Wall Street Zen cut Energy Vault from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Cantor Fitzgerald assumed coverage on Energy Vault in a research report on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 price objective on the stock. Fundamental Research set a $6.05 target price on Energy Vault and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Finally, The Goldman Sachs Group lifted their target price on Energy Vault from $1.75 to $2.00 and gave the stock a “sell” rating in a research report on Thursday, March 19th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Energy Vault presently has a consensus rating of “Reduce” and a consensus price target of $5.08.

Insider Transactions at Energy Vault

In other Energy Vault news, CFO Michael Thomas Beer sold 65,000 shares of the firm’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $3.18, for a total transaction of $206,700.00. Following the transaction, the chief financial officer owned 1,060,945 shares of the company’s stock, valued at approximately $3,373,805.10. This trade represents a 5.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.20% of the stock is currently owned by insiders.

Energy Vault Trading Up 4.3%

Shares of NYSE NRGV opened at $4.70 on Wednesday. Energy Vault Holdings, Inc. has a twelve month low of $0.72 and a twelve month high of $6.64. The firm has a market cap of $836.88 million, a PE ratio of -6.61 and a beta of 1.15. The business has a fifty day simple moving average of $4.76 and a two-hundred day simple moving average of $4.36. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 4.94.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). The firm had revenue of $21.88 million for the quarter, compared to the consensus estimate of $20.72 million. Energy Vault had a negative return on equity of 171.09% and a negative net margin of 52.97%. Analysts expect that Energy Vault Holdings, Inc. will post -0.61 earnings per share for the current fiscal year.

About Energy Vault

Energy Vault is a global energy storage technology company specializing in long-duration, gravity-based energy storage solutions. Founded in 2017 and headquartered in Lugano, Switzerland, the firm has developed a modular system that uses large composite blocks and a proprietary crane system to convert excess renewable energy into gravitational potential energy. When energy demand peaks, the system lowers the blocks to generate electricity through regenerative braking, offering a dispatchable, carbon-free alternative to traditional battery storage.

The company’s flagship product line, EVx, integrates advanced materials science, software-driven controls and artificial intelligence to optimize charge and discharge cycles.